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Strategies & Market Trends : Position Trading Forum

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To: Tim Luke who wrote (2226)	9/25/1998 8:33:00 AM
From: Jay Ray	Read Replies (2) of 7247

Hi, I've been lurking here for a while. This is a great thread - I've gotten enough ideas here to pay for my SI membership many times over (just got the account turned on yesterday). Last night John Chambers from CSCO was on CNBC and denied CIEN takeover rumors again. I don't really buy his denials - he claims that he knows nothing about the rumors and that his engineers decide what companies to buy. In any event, I'm in at 14-1/4 and might get a chance to average down before the next bounce. My favorite play lately is AGP, American Pad and Paper. The company made a bad acquisition and has gotten hammered a few months back. Share price went from 24 down to 1 and is currently trading at 2-7/16. This is a 100 year old company, not some BBOTC junk, that has fallen on hard times but is still the market leader in the stationery industry. They are currently restructuring and should be out with an announcement shortly. When this happens we'll see a nice bounce. Tim, I know this falls under the $5 limit but the company previously traded much higher and should not remain at this level for long. I'm in and out of it for the past two months and have done very well. Cheers, JR

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